Berenberg Bank Reiterates “Buy” Rating for Rainbow Rare Earths (LON:RBW)

Rainbow Rare Earths (LON:RBW)‘s stock had its “buy” rating reaffirmed by equities research analysts at Berenberg Bank in a research report issued on Monday,Digital Look reports. They currently have a GBX 33 price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 80.33% from the company’s current price.

Rainbow Rare Earths Trading Up 3.4%

RBW stock opened at GBX 18.30 on Monday. The company has a market capitalization of £117.90 million, a PE ratio of -37.35 and a beta of 2.25. The company has a debt-to-equity ratio of 3.34, a quick ratio of 3.79 and a current ratio of 0.21. Rainbow Rare Earths has a one year low of GBX 9 and a one year high of GBX 27.50. The company’s 50 day moving average price is GBX 18.53 and its two-hundred day moving average price is GBX 14.73.

Rainbow Rare Earths Company Profile

Rainbow Rare Earths aims to be a forerunner in the establishment of an independent and ethical supply chain of the rare earth elements that are driving the green energy transition. It is doing this successfully via the identification and development of secondary rare earth deposits that can be brought into production quicker and at a lower cost than traditional hard rock mining projects, with a focus on the permanent magnet rare earth elements neodymium and praseodymium, dysprosium and terbium.

The Company is focused on the development of the Phalaborwa Rare Earths Project in South Africa and the earlier stage Uberaba Project in Brazil.